Deutsche Bank AG Cuts Kforce, Inc. (KFRC) Price Target to $22.00
Kforce, Inc. (NASDAQ:KFRC) had its price target reduced by investment analysts at Deutsche Bank AG from $25.00 to $22.00 in a research note issued on Wednesday, August 2nd. The brokerage currently has a “hold” rating on the business services provider’s stock. Deutsche Bank AG’s price target would suggest a potential upside of 22.91% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. TheStreet cut Kforce from a “b-” rating to a “c+” rating in a research note on Wednesday, May 31st. BidaskClub cut Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research cut Kforce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Kforce has an average rating of “Hold” and an average target price of $25.25.
Shares of Kforce (NASDAQ:KFRC) remained flat at $17.90 during mid-day trading on Wednesday. The company had a trading volume of 84,184 shares. The firm has a market cap of $452.69 million, a PE ratio of 13.05 and a beta of 1.54. Kforce has a one year low of $15.95 and a one year high of $26.95. The stock has a 50 day moving average price of $18.97 and a 200-day moving average price of $21.25.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.02. Kforce had a net margin of 2.64% and a return on equity of 29.67%. The firm had revenue of $340.31 million during the quarter, compared to the consensus estimate of $345.24 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, analysts expect that Kforce will post $1.51 EPS for the current fiscal year.
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In other news, CEO David L. Dunkel sold 8,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.32, for a total transaction of $146,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.30% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of KFRC. Chicago Equity Partners LLC purchased a new stake in shares of Kforce during the first quarter valued at about $1,028,000. LSV Asset Management raised its stake in shares of Kforce by 72.0% in the first quarter. LSV Asset Management now owns 198,533 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 83,083 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Kforce by 1.1% in the first quarter. Wells Fargo & Company MN now owns 50,619 shares of the business services provider’s stock valued at $1,203,000 after buying an additional 571 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its stake in Kforce by 52.3% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 45,475 shares of the business services provider’s stock worth $1,080,000 after buying an additional 15,623 shares during the period. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in Kforce during the first quarter worth $100,000. 78.91% of the stock is owned by institutional investors and hedge funds.
Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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